Brick officials 'mum' on Dwek case involvement
Charged real estate mogul owns 7 Brick properties
BY COLLEEN LUTOLF
Staff Writer

Despite local police involvement in the May 11 arrest of real estate mogul Solomon Dwek, Brick officials remain tight-lipped regarding the role Brick police played in the federal investigation.

"I can't really comment on what we're doing," said Brick police Lt. James Riccio.

Dwek, 33, of Ocean Township, owns seven properties in Brick, and hundreds more throughout Ocean and Monmouth counties.

He was arrested and charged on a criminal complaint by the FBI and the Monmouth County Prosecutor's Office for attempting to defraud PNC Bank out of $50 million through a deposit of two $25 million checks, according to an FBI press release.

An FBI release states the investigation was assisted by investigators from the Ocean County Prosecutor's Office and the Brick Township Police Department, but one county official called the association with the investigation "remote."

"We are not involved in it," said Ocean County Assistant Prosecutor Robert Gasser. "It was an investigator working in Brick that apparently crossed paths with it. I don't know. I think it was in that regard. I asked the prosecutor [Thomas F. Kelaher] directly if any investigation was ongoing as to that Dwek [case], and he said absolutely none. We are not [involved]."

Riccio, a member of Brick police's internal affairs department, has been assigned to the FBI's Red Bank office since a federal probe into local corruption yielded the 2005 arrest of Jack Nydam, the former director of Brick's public works department.

The FBI joined the Ocean County Prosecutor's investigation of Nydam to pursue a connection between Nydam and International Trucks of Central Jersey, a company that was the focus of indictments in last year's Operation Bid Rig investigation in Monmouth County.

Nydam pleaded guilty to official misconduct, theft and witness tampering April 3.

He is scheduled to be sentenced Sept. 15.

Riccio is still working with the FBI.

"I'm assigned down here since the whole Nydam thing," he said recently. "It's just in general. It doesn't necessarily mean [the Dwek case] has anything to do with Brick."

"We're just a member of the FBI task force," said Capt. Douglas Kinney, the Brick Police Department's public information officer. "[Riccio's] temporarily assigned to that unit. Anytime this task force makes arrests, you'll see them list the agencies involved in the task force."

Dwek visited a PNC Bank in Eatontown on April 24 and attempted to deposit a $25.2 million check in one of his business accounts, SEM Realty Associates, LLC. The check was issued on a separate business account that had no balance to cover the transfer in funds, according to federal officials.

On April 25, Dwek transferred $22.7 million using funds made available from the check he deposited the day before, officials said.

Officials also allege that later that day, Dwek presented another $25 million check to be drawn from the same closed business account to be deposited into the SEM Realty account. Bank employees voided the second check.

The bank fraud charge carries a maximum 30-year prison term and a $1 million fine, according to the U.S. Attorney's Office.

Although local officials say the Brick connection is slim, Dwek currently has a Adamston Drive subdivision application before the township's Planning Board.

On May 2, after Dwek allegedly bounced the $25 million check, but before his arrest, Dwek, operating as Dwek Land, LLC, transferred the Brick property at 481 Adamston Drive to a relative, Joseph Dwek, according to Ocean County tax records.

Dwek also owns Brick property on Route 88, Brick Boulevard, a gas station on Old Hooper Avenue, and a Chambers Bridge Road property, according to a Dwek property listing released by the courts May 8.

When asked if the transferring of the Brick property had anything to do with why Brick police were involved in the investigation, Riccio said "it could be but I can't really comment on what we're doing."

"I'm not familiar with that particular transfer," he said. "People can transfer property like that."

The Planning Board application, scheduled to be discussed on May 11, the day of Dwek's arrest, was postponed for 90 days, said Land Use Department Michael Fowler.

Although the minor subdivision application initially received approval August 2003 and received an extension in April 2004, Dwek was scheduled to come back before the board, according to land use records.

Dwek was looking to demolish the existing building on the property and construct a new dwelling without having to come back before the board for approval as long as the new structure conformed to zoning regulations.

Although he's representing Dwek in the Planning Board matter, John J. Jackson III, said he's never met Dwek.

"I've never met him and I've never talked to him," Jackson said. "He has other people who work with him who do the work. ... If a particular controversy surrounding piece of property or a person, I may learn or may not learn about it."

State Superior Court Judge Alexander D. Lehrer has frozen Dwek's assets.

Lehrer will hear complaints filed by Dwek business partners or stake holders at a June 2 hearing in Freehold.

Solomon Dwek Ocean County

property holdings

Berkeley Heights1

Brick 7

Dover2

Lacey1

Lakewood72

Point Pleasant1

Waretown1